CLEVELAND, Ohio -- Forest City Realty Trust, Inc., sold its slice of Scranton Peninsula this week, putting the future of 25 acres of riverfront property in new hands.

Real estate records show that an investor group led by Fred Geis, Jesse Grant and Matthew Weiner bought the largely vacant land in a transaction that closed Aug. 1. The price doesn't appear in public records.

The Plain Dealer reported in June that Forest City had struck a deal with Weiner, Grant and Geis, who have talked about bringing housing and commercial projects - small offices, possibly, or cleaner industrial uses - to the peninsula. The land, once occupied by a steel plant, sits across the water from Tower City.

Forest City bought the property nearly 30 years ago with visions of developing it. But the publicly traded company has been selling off real estate in Cleveland in favor of focusing on apartment complexes, office buildings and the occasional mixed-use development in other cities, including Los Angeles, New York and Washington, D.C.

The company's last downtown Cleveland building, Post Office Plaza on West Third Street, is likely to be sold later this month.

For a real estate company with $8.2 billion in assets, the Scranton Peninsula sale is a small transaction. So it didn't trigger an announcement - or a price disclosure - from Forest City. The buyers also won't discuss the price. Public filings show that they secured mortgages totaling $5.1 million on the property.

The balance of the peninsula belongs to Scranton-Averell, Inc., which has controlled the south side of the property through various entities since 1828.